Hi, my name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Does it hurt to cancel a paid off credit card? Well, if you ask me, my experience, yes. Anything you do with your credit card will hurt you, will hurt your credit, if they deem it necessary. A credit score is a really, really tricky thing. Sometimes if you cancel a credit card, just by canceling the credit card, will make a derogatory report on your credit. Having an excessive balance, will do a derogatory report on your credit. Not using your credit card more than what they want you to do, will have a negative effect on your credit. The answer to this question is, you really want to cancel it, don't use the thing. I mean, just simply don't have a balance on it, or an excessive balance on it. Can you cancel it? Yes. Is it 100%, it's going to have a problem? No. Whatever they feel like, and however they wake up in the morning, that's pretty much it. They have some guidelines, but this is really, whenever they choose, whatever they want to do, is what they can do. Having a credit card is really not a good thing. Have one. Try to make sure that you know what you are doing, and you use your credit responsibly. My name is Peter Repak. I'm the owner of Clear Financial LLC. Thank you for watching.